Reversals
Our powerful capability allows you to modify different scenarios of events in your customer's accounts with our SOR System of Record, the core engine and database of Canopy that handles all calculations.
Automated Reversals: Guided Walkthrough
The following guided walkthrough of automated reversals will demonstrate:
- How to initiate a payment reversal from within CanopyOS
- The impacts of the retroactive event system on real world account state.
- The underlying child line item outputs on a
PAYMENT_REVERSAL.
How a Payment Reversal Works
The Create a Payment Reversal API handles the reversal of the payment, as well as all of its downstream effects. Accordingly, when the Payment Reversal occurs, it creates three offsets.
Let’s look at the following two-column history of hypothetical events:
Notice that, in this example of a payment reversal, when we reverse the payment, the net effect is that the principal balance increases by $50, the interest balance increases by $5, and the fee balance increases by $50.
Updated about 19 hours ago